tv Forbes on Fox FOX Business October 4, 2015 3:00am-3:31am EDT
diversified emphasis on dividends which tends to keep the price steady. >> are we through the worst of the volatile times? >> more volatility for a while. i'm off and rolling. >> okay. we'll see. we continue right now. did you see the bummer for j jobs? maybe that's why one of the largest unions gave hillary clinton a snub. hi, everybody. welcome to "forbes on fox" the steamsteres holding back from endorsements planning to meet with candidates on both sides of aisle including donald trump. they haven't backed a republican since ronald reagan and george h. bush. some say the jobs picture may bring us back to the future. are they right? let's go in focus to fine out with lizzeth macdonald, mike ozanian, bruce and mike.
with the lousy numbers could the teamsters go with a republican? >> they could. the teamsters understand the key to getting the economy going is getting the government off the back of the american people. the last two presidents that did it,onald reagan and bill clinton, gave us strong economic growth. the teamsters want the keystone pipeline built. they don't like the cadillac tax and obamacare. they are on to something here. >> the teamsters have supported republicans before. richard nixon, ronald reagan. twice they endorsed him. george h. bush was the last time back in 1988. they didn't endorse anybody in 1996. they may do that. they want jobs, bruce. >> i think the likelihood of endorsing them. we have a long way to go here. generally clinton, biden or whoever would support more labor causes. on the issue of the cadillac tax, it was designed to
curtaille these rich plans to curtaille benefits. it's forcing employers to spend money on lower cost wellness and leaves money for wage increases. >> oh, boy. i heard a groan at that. look at the unemployment numbers and not the overall figure which stayed the same. but some say the real under employment rate is 10% including people who dropped out of the work force. people with part-time jobs that want full-time jobs. that is dismal picture. >> it is. it's why the teamsters' endorsement is up for grabs. look, the teamsters' reticence to support the democrat or hillary has to do with the democratic party is split into a couple of factions. you could call them the greens and blues. the greens are coastal rich, urban democrats who are for electric cars and all that stuff. they are against the manufacturing jobs and the keystone pipeline, the blue
collar democrats want and need. >> yeah. when hillary came out against the keystone pipeline which a lot of unions endorsed because they want the jobs that go with it, that hurt her with the unions. >> absolutely. this is when the rhetoric is no longer sufficient for politics. the reality is democrats do a lot to talk about what's good for working class. they want people to have free doom and opportunity. the one that comes to mind is the minimum wage. this is something unions are behind. it will create a loss of jobs. if anything, republicans will probably create more opportunity. it's a perfect opportunity. >> let's be specific. i want to read from the statement. the teamsters will work with and support a candidate who put it is needs of working families
above the deep pockets of corporate donors. somebody who says they don't have corporate donors is a republican. donald trump. >> he's funding with his own money. this is a really interesting development. by the way, the cadillac tax really hits the union health plans hard. they are always going to be higher in cost. >> we should mention hillary clinton was in favor of getting rid of the cadillac tax. >> this is what i meant. comes, firemen and wrun i don't know workers are in dangerous industries who have often higher costs with health plans. they may have ill spouses with conditions like cancer. we are talking about shovel
ready jobs i wonder if that was a nod to trumpment. >> it may or may not have been. the republicans are way too wishy on job creation and could change things with a radical proposal like enterprise zones for new employers. if you add to the jobs toe tall. and if you pay at least $15 an hour you should be exempt. >> that's the kind of deregulatory policies we are not hearing anything from particularly with hillary clinton. she's talking about more regulations whether it is pharmaceuticals or the keystone pipeline or whatever. >> they liked to centralize
planning that liberals and my former boss bill liked. >> how significant if the teamsters come up for trump and another republican. back in 1980 the unions were stronger than they are now. >> be careful when you drive home tonight. >> exactly right. the endorsement might have been put in place because scott walker is out of the race. >> scott walker is an anti-union record or at least that's what they paint him as. you look at the labor participation rate.
the people who just dropped out of the market. they were at all time highs at least going back 40 years. won't that at least come up during a final debate between the republican nominee and the democrat? >> for sure it will. the paint was raised. mike raised the point they are not doing a good job of explaining where economic growth comes from. i don't have a lot of confidence they can make this. >> labor participation rate is of course all the a 40-year low now. i'm wondering how they speak to what they have done with the economy? >> that's the point. rich makes that point perfectly. i don't think republicans figured out how to talk to people on a personal or emotional level. they are talking about budget
deficits. people want to know if they will have a job. you have to go to the jugular on the agenda which is more labor regulations. that puts this into a tail spin. >> i don't think democrats know how to talk to the american people either. unions are sick and tired of the miss jane hathaway you didn't build that and americans are stupid as jonathan gruber said. it's demoralizing what the people under this president have endured. >> we'll look up in the trivia book jane hathaway. "beverly hillbillys." the economy wasn't that great and look who won re election. i don't know. maybe the american public won't get it on this. >> i think the republicans have done a bad job of explaining how their policies are really about employing the middle class. >> final push question to you, mike. is donald trump going to get the
teamster endorsement. >> no. >> that's the last word. you get more with donald trump in a special edition of cashing in. that's at the bottom of the hour. i can't wait for this one. >> we are sitting down with donald trump who will talk about the oregon shooting and the bombing in syria and how the president is mishandling those. stick around. >> we'll be watching. up here first, forget changing leaders in the house. some say nothing will change until lawmakers change the way they do business in the house. common sense solutions to end the beltway dysfunction once and for all coming next. flooding.
isn't enough. that the whole system needs to change. explain. >> absolutely. leadership is very overrated here. i think real leadership would be less awill rememberist and have the courage to do nothing, to acknowledge that not every problem requires a government solution. if they want to leave they should say short of the u.s. being innervated we are saying the house won't act for at least three months after any perceived crisis. when we have leadership we have bad ledgele insulation. >> what a radical proposal. so leadership doesn't amount to a hill of beans. >> i appreciate the sentiments on this as always. he's wrong. look, president obama vowed particularly in his last year in office to use the executive order to get stuff done that's borderline constitutional. you need leadership in the house to stop this. you're in washington.
anyone who managed the staff knows the principles will trickle down. it starts at the top. if we don't have with lawmakers from both sides we can't get important things done in terms of reigning in the progressive state and re structuring congress so it's more efficient, less productive. >> if we get a connected guy to be the next house leader, won't that mean more of the same. >> you're so right on this. mccarthy is a clown, probably worse than boehner.
we need somebody like ted cruz. principled, standing for your beliefs and for what the american people put the republicans in charge of congress for. when they passed the spending bill last year and acquiesced to president obama and said, you know, we'll continue to fund obamacare. we'll continue to let the epa put american businesses out of work. that was the end for boehner. we need somebody strong who if he has to will actually stop this lawless spending by obamacare. >> business as usual or will we have a real change here? >> we'll have a real change. some of the advice by the constitution. i agree. i'm not sure it's ted cruz. he has to run for the presidency of america. not just christians. i'm a christian, by the way. you can shoot across the floor of congress and not hit anybody. >> not that anybody wants to, but go ahead. >> of course. but you need somebody with
passion who gets both sides of the aisle in on ledgele insulation. it is divisive and poisoned under this president and the past leadership. >> what do you think of this? democrats will probably become in charge of the house again. do we need a new set of rules there? change up the system? >> it needs to be a process. it seems they are more like the senate where they make up rules as they go. they say if all republicans aren't -- >> or the harry reid rule. things are decided with a slim majority. >> i agree. people look and are like, this is not what i studied in political science class. they are confused by the process. it's more of a clown car than just a clown. >> we had a treaty. what happened between iran and the united states isn't a deal.
it's been created because of harry reid and others and start anew. >> i don't necessarily want to. i want less passion, less efficiency. passion gets us errant laws like oxley. it gets us breakouts of banks that weakened the financialle system. we need a congress that acknowledges the economy is healthy when fixing and cleansing itself and we are healthiest when left alone. >> quick last word from rich. go ahead. >> my brother needs to get his phony detection alert fixed regarding senator cruz. >> i'll tell you. he has 100% score from conservatives.org. look at his voting record. >> nobody likes him.
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$132,000 for an electric suv? that's how much tesla is charging for the new model x. a price tag putting it out of reach for most americans but get this. it doesn't mean we are not helping rich americans to buy one. a recent report showing 90% of all tax credits for electric cars go to the rich people. isn't there something wrong with the middle class subsidizing rich people? >> yes. this is green welfare for the hedge fund guys creating a line of green privilege. only the 1% can afford these cars. elan musk owns 27% of tesla. so we are paying to line his wallet. >> bruce, isn't 90% of rich people getting these subsidies
too much for middle class to subsidize? let's face it. there's $130,000 tesla is a toy for rich people. >> it sounds like that. it sounds likele welfare for the wealthy scam. i believe they are talking about and planning to introduce. >> i don't know how many middle class folks will buy a $50,000 electric car. look how much was spent already. $2.4 billion in subsidized tax breaks go to the rich to tesla. 2.4 billion. >> this company would not be in business if it weren't for taxpayer subsidies. i don't think those price things bruce is talking about will happen. the stock is so high and wall street doesn't believe they have to cut the price.
when you look at how much federal spending for electric cars has been over the past six years, 11.4 billion. that's to subsidize primarily rich people. >> how about green technology generally? green technology is a system for extracting cash from the wallets of middle class people and handing it to deserving rich people like al gore. >> do the billionaires need our money? >> this is the irony. wish we had a thousand more like him. i don't think they need subsidies. people who pay $130,000 for his cars aren't going to bat an eye at an extra $7500. >> you're a big fan of federal subsidies, right? >> the shame is the rich pay the majority of taxes. it's offensive that we fleece the rich in order to give other rich a very expensive car.
>> breaking down lately they will buy it on the dip. >> buy it on the dip. >> you can say that about the market. that's it for forbes on fox. thanks for watching. keep it here. donald trump, the forbes cover boy coming up next on cashing in. hey, america. it's the moment you have been wait for. donald trump for the full 30 minutes on cashing in. let's go now. >> he 's been the great divider. it's more of the same. he's using it for his own purposes having to do with guns. not a big